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LOT

224

Block 8 and 9 Galway Technology Park, Parkmore, Co. Galway

Bidding Closed

SOLD FOR

€1,100,000

Property Enquiries

Anna-Kate Fields

anna-kate.fields@bidx1.com
+353 (0)1 667 3388

Viewings/Registration Enquiries

BidX1 Support Team

info@ie.bidx1.com
+353 (0) 1 667 3388

Vendor Solicitor

Michael Doran

mdoran@mhc.ie
+353 (0)1 614 5000

Description

Map

Viewings


Property Summary
  • An office investment.
  • Comprising 2 x purpose-built office blocks.
  • Extending to approximately 1,752 sq. m (18,866 sq. ft) in total.
  • A portion let to Level One Office Limited.
  • Lease expiry 2031.
  • A portion let to Zaledon Limited t/a Wellstone Clinic.
  • Lease expiry 2025.
  • Total current rent reserved €124,460 per annum.
Location
  • Galway is the fourth largest city in Ireland with an urban population of some 80,000 people (as of the 2016 Census).
  • The city is situated approximately 98km north of Limerick and approximately 85km west of Athlone.
  • Transport links are provided by the M6 Motorway which is situated approximately 5km to the east, public transport is served via a number of bus routes and Ceannt Rail Station.
  • The property is situated on Parkmore Road in Galway Technology Park.
  • Surrounding occupiers include Avaeon Solutions, Neo Surgical, Spectrum Accounting and Avenir Digital Analysis.
Description

The property is arranged over ground and two upper floors to provide 2 x purpose-built office blocks which have a communal reception area linking both. Internally the property comprises six separate self-contained floor plates. The ground, first and second floors of Block 8 and the second floor of Block 9 are currently in use as serviced offices. The ground and first floor of Block 9 have been fitted out as a Kidney Dialysis unit.

The offices include the following specification;

  • double glazed PVC windows
  • suspended acoustic tiled ceilings
  • recessed lighting
  • raised access floors
VAT
Please refer to the legal documents.
Accomodation & Tenancies
Unit Floor Present Lessee Accommodation Sq.m (Sq.Ft) Lease Terms Current Rent Reserved € p.a.
      Total 1,752 sq. m  (18,866 sq. ft)    €124,460 p.a.
Block 8 & Block 9 Ground, 1st and 2nd floor of Block 8 and 2nd floor of Block 9 Level One Office Limited  Office accommodation  1,148 sq. m   (12,360 sq. ft)  

21 years from 01.1.2010

5 yearly rent reviews

Breaks in year 5 and every 5 years of the term

IRI terms

€59,400 p.a. 
Block 9 Ground and 1st floor of Block 9 Zaledon Limited t/a Wellstone Clinic Office accommodation  604 sq. m (6,506 sq. ft)

20 years from 01.10.2005

5 yearly rent reviews

Break in year 10

IRI terms

€65,060 p.a. 
BER
Number

Available from BidX1

Energy Performance Indicator

379.49 kWh/m²/yr - 473.72 kWh/m²/yr

No information, statement, description, quantity or measurement contained in any sales particulars or given orally or contained in any webpage, brochure, catalogue, email, letter, report, docket or hand out issued by or on behalf of BidX1 or the vendor in respect of the property shall constitute a representation or a condition or a warranty on behalf of BidX1 or the vendor. Any information, statement, description, quantity or measurement so given or contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor are for illustration purposes only and are not to be taken as matters of fact. Any mistake, omission, inaccuracy or mis-description given orally or contained in any sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor shall not give rise to any right of action, claim, entitlement or compensation against BidX1 or the vendor. All bidders must satisfy themselves by carrying out their own independent due diligence, inspections or otherwise as to the correctness of any and all of the information, statements, descriptions, quantity or measurements contained in any such sales particulars, webpage, brochure, catalogue, email, letter, report or hand out issued by or on behalf of BidX1 or the vendor.